CARVANA CO CVNA
CL A · Common Stock · CUSIP 146869102 · ISIN US1468691027
Online used car dealer based in Arizona
- SectorConsumer discretionary
- IndustryRetail-Auto Dealers & Gasoline Stations
- HeadquartersTempe, AZ
- Websitecarvana.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($480.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $25.91. Options: 32 managers hold calls ($456.0m notional), 40 hold puts ($404.1m).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 272 |
| Q4 2022 | 223 |
| Q1 2023 | 215 |
| Q2 2023 | 247 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 115 | 163 |
| Q1 2023 | 88 | 121 |
| Q2 2023 | 128 | 97 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $411.9m | $215.0m | 0.52 |
| Q4 2022 | $139.7m | $84.5m | 0.60 |
| Q1 2023 | $153.5m | $150.5m | 0.98 |
| Q2 2023 | $456.0m | $404.1m | 0.89 |
Biggest buyers
| D. E. Shaw & Co., Inc. | Added | +3.9m |
| TWO SIGMA INVESTMENTS, LP | Added | +2.1m |
| TWO SIGMA ADVISERS, LP | Added | +2.0m |
| BANK OF MONTREAL /CAN/ | Added | +1.7m |
| BIT Capital GmbH | New | +1.5m |
| JANE STREET GROUP, LLC | Added | +1.3m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | New | +770.6k |
| Steadview Capital Management LLC | Added | +703.2k |
| Trexquant Investment LP | New | +634.5k |
| VANGUARD GROUP INC | Added | +587.6k |
Biggest sellers
| BAILLIE GIFFORD & CO | Reduced | -14.1m |
| FMR LLC | Reduced | -4.7m |
| Point72 Asset Management, L.P. | Sold out | -1.7m |
| BlackRock Inc. | Reduced | -1.4m |
| BANK OF AMERICA CORP /DE/ | Reduced | -994.1k |
| MORGAN STANLEY | Reduced | -938.7k |
| COATUE MANAGEMENT LLC | Reduced | -616.0k |
| 683 Capital Management, LLC | Sold out | -475.0k |
| Mitsubishi UFJ Trust & Banking Corp | Sold out | -377.3k |
| SEVEN EIGHT CAPITAL, LP | Reduced | -326.4k |
Biggest calls
| JANE STREET GROUP, LLC | Added | $72.1m2.8m shares |
| Luxor Capital Group, LP | Unchanged | $58.7m2.3m shares |
| GROUP ONE TRADING LLC | Added | $55.2m2.1m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $47.5m1.8m shares |
| SIMPLEX TRADING, LLC | Added | $38.4m1.5m shares |
| CITADEL ADVISORS LLC | Added | $37.5m1.4m shares |
| IMC-Chicago, LLC | Added | $24.5m946.3k shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $23.4m9.1k shares |
| WOLVERINE TRADING, LLC | Added | $19.4m755.3k shares |
| CTC LLC | Added | $17.1m6.6k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $69.1m2.7m shares |
| NOMURA HOLDINGS INC | Reduced | $48.0m1.9m shares |
| CITADEL ADVISORS LLC | Added | $41.7m1.6m shares |
| JANE STREET GROUP, LLC | Added | $25.9m999.7k shares |
| IMC-Chicago, LLC | Added | $23.9m923.8k shares |
| Chanos & Co LP | Added | $21.2m816.6k shares |
| CTC LLC | Added | $20.1m7.7k shares |
| SIMPLEX TRADING, LLC | Added | $19.4m747.5k shares |
| WOLVERINE TRADING, LLC | Added | $18.0m699.1k shares |
| GOLDMAN SACHS GROUP INC | Added | $14.7m566.2k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
GARCIA ERNEST C. II
13D · may seek influence
-1.0 pts · filed 2026-05-01
Stated purposeItem 4 of the Original Schedule 13D is hereby amended and restated to include the following information. The information set forth in Item 5 is incorporated by reference in its entirety into this Item 4. The Reporting Persons' acquisitions of the securities reported herein were made for investment purposes. Except as set forth in this Item 4, the Reporting Persons do not have any present plans or proposals that relate to or would result in any of the matters described in clauses (a) through (j) of the instructions to Item 4 of Schedule 13D. However, in the future, the Reporting Persons will take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, acquiring or disposing of securities of the Issuer, entering into hedging or le… Full filing |
22.9% |
| GARCIA ERNEST C. III 13G · exempt (held before listing) filed 2025-08-01 | 18.2% |
| PRICE T ROWE ASSOCIATES INC /MD/ 13G · institution filed 2026-02-17 | 12.6% |
| Capital Research Global Investors 13G · institution +1.3 pts · filed 2026-08-12 | 8.9% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.2% |
| BlackRock, Inc. 13G · institution -1.3 pts · filed 2026-07-29 | 6.3% |
| FMR LLC 13G · institution +0.7 pts · filed 2026-05-06 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 5 | $5.5m | — |
| Q1 2022 | 0 | — | 6 | — | — |
| Q2 2022 | 5 | $6.5m | 0 | — | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 5 | $2.7m | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
None reported in Q2 2023.
Holders, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| MORGAN STANLEY 0.03% of their portfolio | 13.0m $336.2m | Reduced -938.7k |
| SPRUCE HOUSE INVESTMENT MANAGEMENT LLC 29.62% of their portfolio | 10.0m $259.2m | Unchanged |
| VANGUARD GROUP INC 0.01% of their portfolio | 9.3m $241.2m | Added +587.6k |
| GREENOAKS LLC 23.14% of their portfolio | 7.4m $191.0m | Unchanged |
| CAS Investment Partners, LLC 26.95% of their portfolio | 6.8m $177.0m | Unchanged |
| Lingotto Investment Management LLP 8.68% of their portfolio | 5.2m $134.4m | Unchanged |
| FMR LLC 0.01% of their portfolio | 4.7m $121.1m | Reduced -4.7m |
| D. E. Shaw & Co., Inc. 0.16% of their portfolio | 3.9m $101.4m | Added +3.9m |
| MILLENNIUM MANAGEMENT LLC 0.09% of their portfolio | 3.3m $85.6m | Added +378.3k |
| BlackRock Inc. 0.00% of their portfolio | 3.1m $79.3m | Reduced -1.4m |
| Thrive Capital Management, LLC 22.31% of their portfolio | 2.9m $76.4m | Unchanged |
| STATE STREET CORP 0.00% of their portfolio | 2.4m $62.7m | Added +12.8k |
| FPR PARTNERS LLC 2.83% of their portfolio | 2.3m $58.5m | Added +100.0k |
| TWO SIGMA INVESTMENTS, LP 0.15% of their portfolio | 2.2m $57.9m | Added +2.1m |
| TWO SIGMA ADVISERS, LP 0.14% of their portfolio | 2.2m $56.5m | Added +2.0m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 1.9m $49.2m | Added +517.6k |
| JANE STREET GROUP, LLC 0.06% of their portfolio | 1.8m $47.6m | Added +1.3m |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 1.7m $46.2m | Added +1.7m |
| KPS Global Asset Management UK Ltd 24.48% of their portfolio | 1.6m $40.8m | Added +500.5k |
| GOODNOW INVESTMENT GROUP, LLC 5.51% of their portfolio | 1.5m $38.3m | Added +3.3k |
| BIT Capital GmbH 4.39% of their portfolio | 1.5m $37.7m | New |
| General Equity Holdings LP 40.81% of their portfolio | 1.1m $27.6m | Added +92.7k |
| Steadview Capital Management LLC 6.57% of their portfolio | 1.0m $26.7m | Added +703.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 895.0k $23.2m | Added +456.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.09% of their portfolio | 770.6k $20.0m | New |
| Pelham Capital Ltd. 6.87% of their portfolio | 769.4k $19.9m | Reduced -221.2k |
| BRIGHTLIGHT CAPITAL MANAGEMENT LP 15.41% of their portfolio | 728.3k $18.9m | Unchanged |
| RV Capital AG 6.00% of their portfolio | 709.8k $18.4m | Unchanged |
| Trexquant Investment LP 0.43% of their portfolio | 634.5k $16.4m | New |
| Penserra Capital Management LLC 0.28% of their portfolio | 543.5k $14.1m | Added +239.2k |
| Schusterman Interests, LLC 21.42% of their portfolio | 536.0k $13.9m | Unchanged |
| GATES FOUNDATION TRUST 0.03% of their portfolio | 520.0k $13.5m | Unchanged |
| Invesco Ltd. 0.00% of their portfolio | 504.0k $13.1m | Added +223.0k |
| COATUE MANAGEMENT LLC 0.06% of their portfolio | 500.0k $13.0m | Reduced -616.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 497.7k $12.9m | Added +214.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 430.9k $11.2m | Reduced -994.1k |
| TUDOR INVESTMENT CORP ET AL 0.18% of their portfolio | 427.1k $11.1m | New |
| INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV 0.92% of their portfolio | 425.0k $11.0m | Unchanged |
| Bank of New York Mellon Corp 0.00% of their portfolio | 373.8k $9.7m | Added +48.9k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 371.4k $9.6m | Added +13.3k |
| Sculptor Capital LP 0.25% of their portfolio | 370.8k $9.6m | Unchanged |
| Selkirk Management LLC 6.95% of their portfolio | 316.2k $8.2m | Added +243.0k |
| PAR CAPITAL MANAGEMENT INC 0.25% of their portfolio | 282.0k $7.3m | New |
| Alta Park Capital, LP 0.82% of their portfolio | 280.3k $7.3m | Reduced -117.9k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 241.0k $6.2m | New |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.22% of their portfolio | 229.2k $5.9m | Unchanged |
| Avenir Management Company, LLC 14.00% of their portfolio | 201.2k $5.2m | Unchanged |
| Swiss National Bank 0.00% of their portfolio | 196.3k $5.1m | Added +2.0k |
| Anabranch Capital Management, LP 3.57% of their portfolio | 187.3k $4.9m | Unchanged |
| Holocene Advisors, LP 0.02% of their portfolio | 173.4k $4.5m | Added +98.6k |
| Carnegie Investment Counsel 0.15% of their portfolio | 161.4k $4.2m | New |
| Taylor Frigon Capital Management LLC 2.03% of their portfolio | 160.2k $4.2m | Reduced -21.0k |
| Quadrature Capital Ltd 0.09% of their portfolio | 157.0k $4.1m | Added +113.0k |
| WOLVERINE ASSET MANAGEMENT LLC 0.08% of their portfolio | 156.5k $4.1m | Added +10.0k |
| Divisadero Street Capital Management, LP 1.16% of their portfolio | 150.0k $3.9m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 148.8k $1.5m | Unchanged |
| PANAGORA ASSET MANAGEMENT INC 0.02% of their portfolio | 145.0k $3.8m | New |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 144.8k $3.8m | Added +26.2k |
| Schonfeld Strategic Advisors LLC 0.03% of their portfolio | 140.7k $3.6m | Added +92.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 139.7k $3.6m | Reduced -10.1k |
| Gotham Asset Management, LLC 0.07% of their portfolio | 132.4k $3.4m | Added +62.3k |
| Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio | 132.4k $3.4m | New |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.43% of their portfolio | 125.1k $3.2m | Added +79.3k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio | 122.9k $3.2m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 117.4k $3.0m | Reduced -61.9k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 111.6k $2.9m | Added +82.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 111.3k $2.9m | Reduced -6.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 106.5k $2.8m | Reduced -51.4k |
| LONESTAR CAPITAL MANAGEMENT LLC 1.36% of their portfolio | 100.0k $2.6m | New |
| CREDIT SUISSE AG/ 0.00% of their portfolio | 96.2k $2.5m | Reduced -1.3k |
| Legal & General Group Plc 0.00% of their portfolio | 83.4k $2.2m | Added +59.6k |
| Capula Management Ltd 0.26% of their portfolio | 83.3k $2.2m | Added +30.8k |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 82.5k $2.1m | New |
| Walleye Trading LLC 0.11% of their portfolio | 79.1k $2.0m | New |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 77.0k $2.0m | Reduced -4.2k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 74.2k $1.9m | Added +40.7k |
| Zweig-DiMenna Associates LLC 0.26% of their portfolio | 73.5k $1.9m | New |
| Raymond James Financial Services Advisors, Inc. 0.00% of their portfolio | 70.4k $1.8m | Added +8.2k |
| Fund 1 Investments, LLC 0.77% of their portfolio | 69.2k $1.8m | New |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 68.4k $1.8m | Added +13.3k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 65.6k $1.7m | Added +5.3k |
| WOLVERINE TRADING, LLC 0.02% of their portfolio | 64.5k $1.7m | Reduced -3.0k |
| BARCLAYS PLC 0.00% of their portfolio | 60.6k $1.6m | Added +7.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 60.2k $1.6m | Added +41.8k |
| 3G Capital Partners LP 1.57% of their portfolio | 60.0k $1.6m | New |
| Cubist Systematic Strategies, LLC 0.02% of their portfolio | 59.7k $1.5m | Added +44.5k |
| Amundi 0.00% of their portfolio | 56.4k $1.5m | Unchanged |
| Luxor Capital Group, LP 0.16% of their portfolio | 56.3k $1.5m | New |
| CITIGROUP INC 0.00% of their portfolio | 53.1k $1.4m | Reduced -18.6k |
| Corton Capital Inc. 0.62% of their portfolio | 51.1k $1.3m | New |
| MetLife Investment Management, LLC 0.01% of their portfolio | 50.6k $1.3m | Added +44.3k |
| LPL Financial LLC 0.00% of their portfolio | 50.0k $1.3m | Added +8.2k |
| CTC LLC 0.02% of their portfolio | 48.0k $1.2m | New |
| AMERICAN INTERNATIONAL GROUP, INC. 0.01% of their portfolio | 46.2k $1.2m | Added +44.7k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 44.8k $1.2m | Added +28.0k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 44.3k $1.1m | New |
| Bayesian Capital Management, LP 0.11% of their portfolio | 41.0k $1.1m | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 39.7k $1.0m | Reduced -47.9k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 38.0k $986.2k | Reduced -3.9k |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 38.0k $984.3k | Reduced -120 |